With the cost of living going up each year, it’s hard to imagine how much you’ll need for your retirement. Latest figures suggest that if you’re aiming for a comfortable lifestyle in retirement you’ll want to save about $510,000 for a couple or $430,000 for a single person1. To find out what you could afford when you retire, enter the Bridges Retirement Lab at bridges.com.au/retirementlab, see how you measure up and whether you’re on track to live the retirement you want.
The Bridges Retirement Lab is an online tool that lets you picture your lifestyle in retirement and select the level of comfort you envisage for your home, food, leisure, transport and health care. You’ll see if your savings, super and investment strategy measure up to meet the retirement lifestyle you want, view and download your results; and see how financial advice could help you achieve your retirement goals.
How it Works
Step 1 – Picture your lifestyle
Select the level of comfort you want for your home, food, leisure, transport and health care.
This step explains the different comfort levels and their associated goods or services. For instance, do you want to enjoy regular holidays? Do you want to update the kitchen or bathroom or your entire house? Eat out or entertain family and friends at home? How about private health insurance and maintaining a car?
Based on your selections, you’ll be placed on a lifestyle scale from low (modest) to high (comfortable plus)
Step 2 – Test how you measure up
See if your savings, super and investment strategy measure up to meet the retirement lifestyle you want. Roll up your sleeves, test out different scenarios and make the Bridges Retirement Lab work for you.
Step 3 – View and download your results
This steps allows you to view and download your personalised results including tips on how you could increase your retirement savings and how a financial planner could help.
To discuss and understand in more depth what the results of the Bridges Retirement Lab mean for you, make an appointment with a Bridges financial planner.